Flowserve Corp (FLS) Expected to Announce Earnings of $0.35 Per Share
Brokerages expect that Flowserve Corp (NYSE:FLS) will report $0.35 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have made estimates for Flowserve Corp’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.47. Flowserve Corp reported earnings per share of $0.52 in the same quarter last year, which would suggest a negative year-over-year growth rate of 32.7%. The firm is expected to announce its next earnings report on Thursday, October 26th.
On average, analysts expect that Flowserve Corp will report full-year earnings of $1.38 per share for the current fiscal year, with EPS estimates ranging from $1.31 to $1.44. For the next year, analysts forecast that the firm will report earnings of $2.01 per share, with EPS estimates ranging from $1.70 to $2.67. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Flowserve Corp.
Flowserve Corp (NYSE:FLS) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.21). Flowserve Corp had a return on equity of 10.02% and a net margin of 4.81%. The business had revenue of $877.00 million for the quarter, compared to analyst estimates of $933.91 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis.
Several equities research analysts have recently commented on FLS shares. Jefferies Group LLC reissued a “buy” rating and set a $50.00 target price on shares of Flowserve Corp in a research report on Friday, July 14th. BMO Capital Markets restated a “buy” rating and set a $56.00 price target on shares of Flowserve Corp in a report on Tuesday, June 27th. Cowen and Company restated a “buy” rating and set a $55.00 price target on shares of Flowserve Corp in a report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $45.00 price target on shares of Flowserve Corp in a report on Sunday, September 3rd. Finally, Boenning Scattergood restated a “hold” rating on shares of Flowserve Corp in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.18.
A number of institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. boosted its holdings in Flowserve Corp by 7.8% during the third quarter. Eqis Capital Management Inc. now owns 53,543 shares of the industrial products company’s stock worth $2,280,000 after purchasing an additional 3,867 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Flowserve Corp by 1.0% in the second quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 89 shares during the last quarter. Toronto Dominion Bank boosted its stake in Flowserve Corp by 25.3% in the second quarter. Toronto Dominion Bank now owns 44,637 shares of the industrial products company’s stock valued at $2,071,000 after acquiring an additional 9,006 shares during the last quarter. Verition Fund Management LLC boosted its stake in Flowserve Corp by 2.5% in the second quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 126 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Flowserve Corp in the second quarter valued at about $458,000.
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Flowserve Corp (NYSE:FLS) traded up 0.41% during trading on Wednesday, hitting $43.72. 848,340 shares of the stock were exchanged. Flowserve Corp has a 52 week low of $37.51 and a 52 week high of $52.10. The firm’s 50-day moving average is $41.10 and its 200 day moving average is $45.12. The firm has a market cap of $5.71 billion, a PE ratio of 54.65 and a beta of 1.47.
The company also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, September 21st. Flowserve Corp’s dividend payout ratio (DPR) is presently 98.70%.
Flowserve Corp Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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